IPFS News Link • Economy - Economics USA
Mammoth Lakes, California files for bankruptcy
• ReutersMammoth Lakes, California filed on Tuesday for Chapter 9 bankruptcy protection from its creditors due to a nearly $43 million legal judgment against it.
The filing follows a vote Monday by Mammoth Lake's town council in favor of a bankruptcy filing, specifically to seek protection from the property developer awarded the judgment against the resort town of about 8,000 residents in the Sierra Nevada mountains.